C723 QUANTITATIVE ANALYSIS FOR BUSINESS
EXAM 2026 QUESTIONS WITH ANSWERS
GRADED A+
● Payoff tables - will quantify the costs and benefits of each solution
alternative.
● Decision trees - will be used to identify the alternatives and
probabilities of occurrence.
● Network analysis - refers to the network of activities required to
complete a business project.
● Quantitative analysis - provides methods to analyze large or small
amounts of data to look for patterns, trends, and relationships.
● Mathematical analysis - can help managers make strategic decisions
and find statistically supported solutions to business questions. These are
functional areas over a period of time.
● Data may be categorized as either - subjective or objective.
,● Subjective data - obtained through surveys and interviews, are
considered non-measurable,
data typically include personal perceptions, such as likes, dislikes,
attitudes, and opinions.
● Objective data are - measurable and typically arise from observation
or testing in business areas like sales, operations, manufacturing, and
logistics.
Data must be valid: that is, the data must accurately represent the true
business relationship at hand. Further, the data must be reliable: if we
sought to characterize a particular business relationship by gathering
data several different times (different samples), the data would reflect
the relationship the same way with every sample.
● Examples of quantitative analysis - cost-benefit analysis, inventory
analysis, logistical analysis, and forecasting revenue.
● quantitative analysis approach - defines a problem and then develops a
mathematical model to represent the particular business situation. The
model allows managers to make inferences regarding the data.
● Total Revenue - p=$xq $X is the revenue earned per item sold, Q is
the quantity of items sold.
, Company XYZ can use this equation to forecast its revenue if X remains
constant
● Steps in Quantitative Analysis - 1. Define problem.
2. Develop mathematical model.
3. Prepare and input data.
4. Find best solution.
5. Test solution.
6. Analyze results.
7. Implement solution.
● Cause and effect use - independent and dependent variables. A
dependent variable is the variable that is being measured, or affected.
The independent variable is free to change in a given model.
The dependent variable is affected by the changes in the causing
independent variable. Although only one dependent variable is
considered, many independent variables can have an effect.
● fishbone diagram is sometimes - used to determine the cause of a
problem.
EXAM 2026 QUESTIONS WITH ANSWERS
GRADED A+
● Payoff tables - will quantify the costs and benefits of each solution
alternative.
● Decision trees - will be used to identify the alternatives and
probabilities of occurrence.
● Network analysis - refers to the network of activities required to
complete a business project.
● Quantitative analysis - provides methods to analyze large or small
amounts of data to look for patterns, trends, and relationships.
● Mathematical analysis - can help managers make strategic decisions
and find statistically supported solutions to business questions. These are
functional areas over a period of time.
● Data may be categorized as either - subjective or objective.
,● Subjective data - obtained through surveys and interviews, are
considered non-measurable,
data typically include personal perceptions, such as likes, dislikes,
attitudes, and opinions.
● Objective data are - measurable and typically arise from observation
or testing in business areas like sales, operations, manufacturing, and
logistics.
Data must be valid: that is, the data must accurately represent the true
business relationship at hand. Further, the data must be reliable: if we
sought to characterize a particular business relationship by gathering
data several different times (different samples), the data would reflect
the relationship the same way with every sample.
● Examples of quantitative analysis - cost-benefit analysis, inventory
analysis, logistical analysis, and forecasting revenue.
● quantitative analysis approach - defines a problem and then develops a
mathematical model to represent the particular business situation. The
model allows managers to make inferences regarding the data.
● Total Revenue - p=$xq $X is the revenue earned per item sold, Q is
the quantity of items sold.
, Company XYZ can use this equation to forecast its revenue if X remains
constant
● Steps in Quantitative Analysis - 1. Define problem.
2. Develop mathematical model.
3. Prepare and input data.
4. Find best solution.
5. Test solution.
6. Analyze results.
7. Implement solution.
● Cause and effect use - independent and dependent variables. A
dependent variable is the variable that is being measured, or affected.
The independent variable is free to change in a given model.
The dependent variable is affected by the changes in the causing
independent variable. Although only one dependent variable is
considered, many independent variables can have an effect.
● fishbone diagram is sometimes - used to determine the cause of a
problem.
